Ashton Thomas Securities LLC Acquires 84 Shares of Adobe Inc. (NASDAQ:ADBE)

Ashton Thomas Securities LLC lifted its holdings in Adobe Inc. (NASDAQ:ADBE) by 12.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 777 shares of the software company’s stock after buying an additional 84 shares during the period. Ashton Thomas Securities LLC’s holdings in Adobe were worth $402,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ADBE. International Assets Investment Management LLC boosted its stake in Adobe by 66,909.7% during the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after buying an additional 1,376,333 shares during the period. Swedbank AB purchased a new position in shares of Adobe during the 1st quarter worth about $621,179,000. Longview Partners Guernsey LTD bought a new position in Adobe during the 2nd quarter valued at about $663,745,000. Price T Rowe Associates Inc. MD raised its position in Adobe by 17.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock worth $3,857,189,000 after purchasing an additional 1,146,718 shares during the period. Finally, BlueSpruce Investments LP lifted its stake in Adobe by 81.1% in the first quarter. BlueSpruce Investments LP now owns 1,285,596 shares of the software company’s stock worth $648,712,000 after purchasing an additional 575,675 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. UBS Group reduced their price target on Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Stifel Nicolaus boosted their target price on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Oppenheimer reiterated an “outperform” rating and set a $625.00 price objective on shares of Adobe in a report on Friday, September 13th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Finally, Argus upgraded Adobe to a “strong-buy” rating in a report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $606.40.

Adobe Stock Performance

Shares of Adobe stock opened at $504.48 on Tuesday. The firm has a market capitalization of $222.07 billion, a P/E ratio of 42.61, a PEG ratio of 2.55 and a beta of 1.30. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average price of $514.90 and a 200 day moving average price of $517.00.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.26 earnings per share. Sell-side analysts expect that Adobe Inc. will post 14.82 EPS for the current year.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the transaction, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the transaction, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at $1,316,693.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the sale, the chief financial officer now directly owns 20,838 shares in the company, valued at approximately $10,740,738.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,187 shares of company stock worth $17,736,369 over the last three months. 0.15% of the stock is currently owned by insiders.

Adobe Company Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.